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34. Offences by companies. �
(1) Where an offence under this Act has
been committed by a company, every person who at the time the offence was
committed, was in charge of and was responsible to the company for the conduct
of the business of the company, as well as the company shall be deemed to be
guilty of the offence and shall be liable to be proceeded against and punished
accordingly :
Provided that nothing contained
in this sub-section shall render any such person liable to any punishment
provided in this Act if he proves that the offence was committed without his
knowledge or that he exercised all due diligence to prevent the commission of
such offence.
(2) Notwithstanding anything
contained in sub-section (1), where an offence under this Act has been committed
by a company and it is proved that the offence has been committed with the
consent or connivance of, or is attributable to any neglect on the part of, any
director, manager, secretary or other officer of the company, such director,
manager, secretary or other officer shall also be deemed to be guilty of that
offence and shall be liable to be proceeded against and punished accordingly.
Explanation. � For the purposes
of this section �
(a) "company" means a body
corporate, and includes a firm or other association of individuals ; and
(b) "director" in relation to
a firm means a partner in the firm.
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